SPX potential bottom: another perspective
Updated
It is easier to see this from SPX monthly chart. The top trend line since 2009 was breached last few years due to a lot of money being printed.
If not for the money printing, today SPX should be at about 3400.
Now the monetary contracting cycle is starting, I think SPX is heading towards its 50 month moving average line and probably dip a bit below it. I am currently seeing we bottom out near 3400-3500.
If not for the money printing, today SPX should be at about 3400.
Now the monetary contracting cycle is starting, I think SPX is heading towards its 50 month moving average line and probably dip a bit below it. I am currently seeing we bottom out near 3400-3500.
Note
This is meant to be my view of the market in the mid term, for the rest of the year. Before that we might have short term bottom near 3800-3900 very soon.
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